Titan, GAIL, PVR Inox: How should you trade these results-bound buzzing stocks

Domestic benchmark indices ended July on a high note, thanks to supportive global cues and buying in IT and auto heavyweights. The BSE Sensex jumped 367.47 points, or 0.56 per cent, to settle at 66,527.67. The NSE Nifty gained 107.75 points, or 0.55 per cent, to 19,753.80.

Select results-bound stocks such as GAIL (India), PVR Inox and Titan Company are likely to remain under the spotlight. Here is what Sujit Deodhar, Head Technical Analyst at Wellworth Share & Stock Broking has to say on these stocks ahead of Tuesday's trading session:

GAIL (India) | Buy | Target Price: Rs 129-135 | Stop Loss: Rs 113.50
GAIL (India) has witnessed a resistance breakout at the levels of Rs 116 on the daily chart, with strong volumes. This stock consolidated in the range of Rs 90-116 levels from June 2021 to July 2023. Post the breakout, the stock offers a great buying opportunity for an immediate target of Rs 135 level, with stop loss to placed below Rs 113.50 level.

PVR Inox | Buy | Target Price: Rs 1,652 | Stop Loss: Rs 1,475
PVR Inox has broken out of its falling trend line with positive divergence on the technical indicator MACD. This qualifies the stock as a ‘contra buy', due to the oversold nature of the stock. PVR Inox can be bought at the current levels of Rs 1,557 and on any dips to the levels of Rs 1,522 for a trading target of Rs 1,652, with stop loss placed below Rs 1,475 level.

Titan Company | Buy above Rs 3,045 | Target Price: Rs 3,150-3,200 | Stop Loss: Rs 2,950
Titan Company went up to Rs 3,200 level in July from Rs 2,330 level in March. The stock has now retraced back to the support level of Rs 2,950, where its 50-SMA is placed t. A break above Rs 3,045 level will trigger a fresh buy on this counter for a trading target in the range of Rs 3,150-3,200 levels. Place a stop loss below Rs 2,950 level.


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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